Roku Inc shares dropped 8% on Friday after the company reported strong first-quarter user growth but shared lackluster commentary about its ad business outlook for the second quarter.
Roku reported a 45-cent loss per share for the first quarter, in-line with analyst expectations. Revenue of $321 million exceeded consensus estimates of $307 million.
Roku also reported 39.8 million active accounts, up 37% from a year ago. Management said its ad business will continue to grow, but has been slowed by a higher-than-normal number of cancellations….CLICK for complete article
